n...- \\Il'll 1 LLEGE Student Resources ' Faculty Resources * Academic Resources ' l2 Within the remote nation of New Hope, total industrial production is currently creating a constant level of GDP that results in 2.500 mllllon tonnes per year ol carbon being released into the atmosphere. The government announced three years ago that n or a cap on carbon emissions of 2,350 million tonnes would be imposed. This triggered the creation of new firms that began to plant large plantations of trees grown specifically to absorb carbon from the atmosphere and thus earn carbon credits that they would sell to the highest bidder. See table below for the' supply of these earned carbon credits available when the program begins. a. What will be the initial price for carbon credits? (no commas) initial price $:| Next, assume that new technology enables the some level of GDP to be achieved with 4 percent less carbon emissions. b. Now what is the price of carbon credits? (no commas)